iBeardy

BTCs last BIG pump & dump before huge bull market!?

iBeardy Updated   
BITSTAMP:BTCUSD   Bitcoin
Hello,

i will keep this analysis as short as i can.

Currently BTC is on an uptrend on the higher uptrend creating higher highs and higher lows.

A lot things are lining up for a pump to $10500 - $11000 BUT i will also explain one thing which would make me short term bearish in the screenshot below.
I will explain in the screenshots below, why i think a pump might come first before the last big dump.

Here is a short overview of the current situation:
1. BTC soon attempting the fourth try to break the three year resistance line at ~$11300
2. Huge Weekly resistnace at $11511 which goes back to bullmarket 2019
3. Potential Bull Flag with a target of $10800
4. Break above $10074 will print a Bear Divergence on Daily
5. Target for short would match with that white support line and the order block between $8820 - $8571
6. Potential Cup&Handle with a target of.. guess what: Exactly the same target as the bullflag one at $10800
7. Todays retest of the support at $9623 succeded, which was also a order block from 2019.
Comment:
Here is the one thing which would make me short term bearish:

Its the Bearish 3-Method Formation candle stick pattern, which is really really powerful when its confirmed.

The bearish one has 5 Candles.
First long red
3 small green
Fifth long red

If BTC closes after Daily close the 4 hourly candle below $9623, a nasty big dump might follow.

Comment:
Here i explain to you, why i think, that a big pump and big dump might happen very shortly.

Read the description on the chart from bullrun 2019.

Comment:
Lets check out the current Price Action.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.